What is the revenue and EPS growth rate for American Tower year over year?

What is American Tower's latest dividend and current dividend yield?

What is the market's earnings forecast for American Tower next quarter?

What were the key takeaways from American Tower's earnings call?

What were the key takeaways from American Tower’s earnings call?

What guidance did American Tower's management provide for the next earnings period?

What is American Tower's gross profit margin?

What does American Tower do and what are its main business segments?

- **Revenue Growth**: 8% YoY total revenue, 14% data center growth, 5% organic tower growth. 
- **AFFO Guidance**: 7% YoY growth (9% ex-FX), driven by EBITDA expansion and cost control. 
- **CoreSite Strength**: Record retail leasing, mid-teens stabilized yields, 42MW under construction. 
- **Services Pipeline**: Near-record services revenue, 20% YoY app volume growth, 40% colo app growth. 
- **Balance Sheet**: 4.9x leverage, $10.7B liquidity, $28M share buybacks. 
- **Risks**: AT&T Mexico $30M annual reserve, DISH litigation over 2% of US revenue. 
- **AI Opportunity**: CoreSite leading in co-located AI/ML workloads, liquid cooling adoption.

**【CEO Summary Section】**
- Delivered double-digit growth in attributable AFFO per share (7% YoY at midpoint, 9% excluding FX and financing costs). 
- Leasing activity robust across towers (5% organic growth) and data centers (14% revenue growth). 
- Mobile data consumption up 35% YoY in US, driving 5G densification and tower upgrades (75% of US towers upgraded). 
- CoreSite data centers seeing record demand for AI/ML workloads, hybrid cloud deployments, and liquid cooling solutions. 
- Strategic priorities: organic growth (5%+ tenant billings), margin expansion (300bps since 2020), disciplined capital allocation ($3.2B dividend, $1.7B capex). 
- Services revenue at near-record levels, driven by carrier 5G buildouts and densification. 

**【CFO Financial Commentary】**
- Total revenue +8% YoY ($40M FX tailwind), adjusted EBITDA +8%, AFFO +10%. 
- Updated 2025 guidance: 
  - Property revenue: $40M increase (3% YoY, 5% ex-straight-line) 
  - Adjusted EBITDA: $45M increase (4% YoY, 7% ex-straight-line) 
  - AFFO: $50M increase (7% YoY, 9% ex-FX/interest) 
- CoreSite data centers: 13% YoY growth, mid-teens stabilized yields. 
- Balance sheet strength: 4.9x net leverage, $10.7B liquidity. 
- $28M share buybacks post-quarter end under $2B authorized program. 
- AT&T Mexico dispute: $30M annual reserve, $19M already booked, arbitration hearing in August 2026. 

**【Q&A Highlights】**
- **Services Growth**: Near-record pipeline for 2026, driven by 5G mid-band deployment and densification. 
- **Spectrum Auctions**: Higher frequency bands (6-10GHz) will require densification, benefiting tower portfolio. 
- **CoreSite Pre-Lease Share**: 6% drop due to construction-to-leasing transition, not demand slowdown. 
- **Cost Optimization**: 300bps margin expansion since 2020, new COO role focused on supply chain and automation. 
- **M&A Strategy**: Prefers developed market growth (US, Europe) over acquisitions, given private multiples. 
- **DISH Litigation**: Filed declaratory judgment to enforce 2036 MLA, represents 2% of US revenue. 
- **AI Impact**: CoreSite seeing demand for co-located AI/ML workloads, liquid cooling adoption accelerating. 
- **Liquidity**: $10.7B liquidity, 4.9x leverage vs. 5x peer average, enabling $3.2B dividend + growth capex.

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